Not an expert in valuation....but how does on get to this number for a space company? 
https://twitter.com/kchangnyt/status/890668642102333440 …
Presumably, the people who invested $351 million got 1.65% of the company. Also, although SpaceX is private, shares are bought/sold.
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As to why people pay that much: Elon. He's got a pretty good track record building disruptive companies out of what was thought niche tech.
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